Banco Macro (NYSE:BMA) Upgraded at ValuEngine

ValuEngine upgraded shares of Banco Macro (NYSE:BMA) from a sell rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

A number of other research analysts have also recently issued reports on BMA. Zacks Investment Research raised Banco Macro from a hold rating to a strong-buy rating and set a $31.00 price objective for the company in a report on Friday, December 6th. Itau BBA Securities reissued an underperform rating on shares of Banco Macro in a report on Monday, December 9th. Citigroup cut Banco Macro from a buy rating to a neutral rating in a report on Thursday, September 19th. Bank of America cut Banco Macro from a buy rating to an underperform rating in a report on Thursday, September 19th. Finally, Scotiabank raised Banco Macro from an underperform rating to a sector perform rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $49.00.

Shares of BMA stock opened at $32.90 on Tuesday. The stock has a market cap of $2.25 billion, a P/E ratio of 4.21 and a beta of 1.22. The stock has a fifty day moving average price of $32.33 and a 200 day moving average price of $37.36. Banco Macro has a one year low of $21.41 and a one year high of $77.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.13 and a quick ratio of 0.98.

Banco Macro (NYSE:BMA) last issued its quarterly earnings data on Friday, November 8th. The bank reported $3.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.05 by $1.53. The company had revenue of $490.69 million during the quarter. Banco Macro had a return on equity of 44.95% and a net margin of 24.72%. Equities research analysts anticipate that Banco Macro will post 8.81 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of BMA. BlackRock Inc. lifted its holdings in shares of Banco Macro by 75.7% during the second quarter. BlackRock Inc. now owns 3,015,429 shares of the bank’s stock valued at $219,672,000 after acquiring an additional 1,299,448 shares during the period. Man Group plc acquired a new stake in shares of Banco Macro in the second quarter valued at $25,027,000. Northern Trust Corp increased its stake in shares of Banco Macro by 198.9% in the second quarter. Northern Trust Corp now owns 428,057 shares of the bank’s stock valued at $31,184,000 after buying an additional 284,839 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Banco Macro in the second quarter valued at $17,462,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Banco Macro in the second quarter valued at $16,075,000. 22.11% of the stock is owned by institutional investors.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to individuals and corporate customers in Argentina. It offers various retail products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.

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Analyst Recommendations for Banco Macro (NYSE:BMA)

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